Production Declines and Input Costs

Global crude steel production fell 4.2% recently, with significant declines recorded in Asia and Europe. Simultaneously, mills have raised domestic delivery prices to reflect higher input costs linked to energy disruptions.

Protectionist Tailwinds

The European Union has moved to raise tariffs on imported steel to 50% to shield domestic industries. This regionalization of supply chains is creating localized price support despite the property sector downturn in China.